On 1/16/2010 12:27 AM, Len wrote:
It is too bad we cannot back in time and make sure this does not happen. but
then I also wished for a billion dollars to fall out of the sky! Hindsight
is always best.I'm a tax accountant and I did not see this mess coming did
any of you? if so please show me were and how you protested publicly and I
will give you a prize. It is just another example of the failure of both
political parties the democratic president and republican congress. We knew
it was a bad idea but let it slide,it was in great Part OUR mistake not the
dum dums in Washington


len




Under this program described in 1999 when Clinton was President, I sold
a house. While I was able to purchase my next house with an interest
rate of about 5.4%, the person who bought my house finally got a loan
for over 11%. She was a beautician, he was unemployed, they had an 85%
debt to income ratio. With minimal income their monthly payment was
twice what I was paying.

The outcome of this type of financial deals was obvious when we sold the
house in 2000. We should be thanking the people at AGI, Fannie May, and
others for being able to keep the lid on this disaster for as long as
they did. They deserve every penny they got.